Guideline Value for Ganga Nagar

Ganga Nagar guideline value

The current guideline value of Ganga Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft. This guideline value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Ganga Nagar has changed

Over the years, the guideline value of Ganga Nagar has seen significant changes. Starting from Rs 27 per sq.ft in 2003, the value increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 641%. In 2012, the value was Rs 400 per sq.ft, which was a 100% increase from the previous revision. However, in 2017, the value dropped to Rs 268 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 400 per sq.ft in 2023, and finally, it reached Rs 440 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1530%. The register has no figure for the year 2002 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the guideline value of Ganga Nagar.

• Gokul Nagar: Rs 550 per sq.ft (2024)
• Gomathiamman Nagar: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex - 10: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex 6 Extention: Rs 440 per sq.ft (2024)
• Gomathiamman Nagar Annex 9 Extention: Rs 440 per sq.ft (2024)
• Gomathi Amman Nagar Annex III: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total fees would be Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ganga Nagar?

The Sub Registrar Office that covers Ganga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Vilangadupakkam

The guideline value is a crucial factor when registering property transactions in Vilangadupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is reflected accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganga Nagar?

The current guideline value of Ganga Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 27 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, which is an overall increase of 1530%.

What is the land classification for Ganga Nagar?

Ganga Nagar falls under the Residential Class III Type - I land classification.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft would incur total fees of Rs 39,600.